MUMBAI (Commoditiescontrol) - ICE cotton on-call sales in most-active December contract increased 856 contracts to 22,561 contracts. On-call purchases reduced 1,077 contracts to 12,237 contracts during the week ended 21 August, as per CFTC report.
ICE cotton on-call sales in March contract also jumped 551 contracts to 16,903 contracts. On-call purchases increased 363 contracts to 1,108 contracts.
Cotton prices may trade sideways in the coming sessions in December contract. The data showed that speculators increased their short position ahead of an expected reduction in crude oil prices coupled with adverse impact on currency after devaluation of China's Yuan.
Total on-call sales on all active futures gained 1,649 contracts to 63,287 and total purchasers exited buying position by 686 contracts to 21,442 contracts.
On-call positions represent spot cotton sold to or purchased from a merchant, based out of New York cotton futures contracts of 500-pound bales. Prices are not yet fixed against these contracts.
Open interests in December futures increased 6,467 to 144,910 contracts. Total open interest on all futures increased 5,175 contracts to 183,798 contracts. At the same time, open interest in March futures increased 3,353 contracts to 39,508.
(By Commoditiescontrol Bureau; +91-22-61391533).
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